A recent segment by WNYC reporter Ilya Marritz focused on how towns like Bloomfield, NJ–where residents can walk to businesses–are attracting more people and investments than traditional New York City suburbs where residents must drive to commercial areas.
Marritz cited a study from the George Washington University School of Business Center for Real Estate & Urban Analysis that paints a more nuanced picture of the urban-suburban landscape. The study, which mapped the 31-county New York, New Jersey and Connecticut region, shows walkable urban locations can be vital economically and be socially inclusive. Balancing the two takes “a concerted effort by policy makers to ensure pent-up demand is channeled into growing and creating inclusive, walkable communities,” says authors Christopher B. Leinberger, Michael Rodriguez and Tracy Loh.
The study showed “Walkable urban places contain the majority of real estate assets and produce most of the economic gross regional product (GRP) for the region. Due to their high concentrations of both employment and highly educated knowledge employees, walkable urban places account for 55.6 percent of the region’s GRP.”
(Photo: Wikipedia Commons)